Equity

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<p class="has-drop-cap">SoundHound AI, Inc. (NASDAQ: SOUN) announced today that it has entered into an <a href="https://www.streetinsider.com/Corporate+News/SoundHound+AI+%28SOUN%29+enters+Equity+Distribution+Agreement/23048748.html" target="_blank" aria-label="Equity Distribution Agreement (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">Equity Distribution Agreement</a> with several prominent financial institutions, including Citigroup Global Markets Inc., Barclays Capital Inc., Wedbush Securities Inc., Northland Securities, Inc., and Ladenburg Thalmann &amp; Co. Inc. <br><br>These firms will serve as sales managers and/or principals for the company’s new at-the-market equity program authorized for selling up to $150 million of its shares.</p>
<h3 id="soundhound-ai-may-sell-up-to-150m-worth-of-its-class-a-common-stock">SoundHound AI May Sell Up to $150M Worth of its Class A Common Stock</h3>
<p>Under the terms of the agreement, SoundHound AI may offer and sell up to $150 million of its Class A common stock. The sales managers will receive a commission of 2.5% of the gross sales price of shares sold, and the company will reimburse them for specified expenses related to the agreement.</p>
<p>Shares may be sold through various methods, including negotiated transactions, block trades, or “at the market” offerings directly on the Nasdaq Global Market or through market makers.</p>
<p>The offering is being conducted under the company’s Form S-3 Registration Statement, which was filed and became effective on August 4, 2023, along with related prospectus supplements.</p>
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<h3 id="soundhound-ai-stock-drops-over-8">SoundHound AI Stock Drops Over 8%</h3>
<p>SoundHound AI’s stock, traded under the symbol SOUN on the Nasdaq Global Market, has experienced significant <a href="https://tokenist.com/investing/what-is-beta-in-stocks/" rel="noopener noreferrer nofollow" class="deco-link">volatility</a> in recent trading sessions.<br><br>As of the latest report, the stock was trading at $4.44, marking a decrease of 8.45% from the previous close of $4.85. The stock has been fluctuating within a day’s range of $4.19 to $4.53, with a current trading volume of 15,263,553 shares, compared to an average volume of 62,738,296.</p>
<p>Over the past 52 weeks, SoundHound AI’s stock has varied between $1.49 and $10.25, reflecting its growth potential and the market’s interest in <a href="https://tokenist.com/three-ai-stocks-that-are-trading-at-a-discount-in-april-2024/" rel="noopener noreferrer nofollow" class="deco-link">AI-driven solutions</a>.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em><br></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/soundhound-ai-stock-falls-8-after-150m-equity-distribution-agreement/">SoundHound AI Stock Falls 8%+ After $150M Equity Distribution Agreement</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

SoundHound AI Stock Falls 8%+ After $150M Equity Distribution Agreement

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